I would like to create an adjustment entry to move my prepaid expenses (Balance sheet item) to my expenses (Income statement item). Is there a way I can automate this?

Hi there, 

QuickBooks Online includes tons of smart tools that will help save you time with your bookkeeping. I know how convenient it is to set up certain types of transactions to happen automatically. The feature that best fits this type of goal are Recurring Transactions. I'll explain the types of transactions that can be automated.

Take a look at this article to learn more about Recurring Transactions in QBO: Schedule recurring transactions created with a template.

The following transactions can be created with Recurring Transactions:

• Bill
• Non-Posting Charge
• Cheque
• Non-Posting Credit
• Credit Card Credit
• Credit Memo
• Deposit
• Estimate 
• Expense
• Invoice 
• Journal Entry
• Refund
• Sales Receipt
• Transfer
• Supplier Credit
• Purchase Order

In your situation, you may wish to explore creating a Recurring Transfer. It's hard to determine whether or not this would effectively assist you in your goal without seeing the way your account has been set up. If you reach out to our tech support team an agent can share your screen remotely and assist you further. 

Have a great day.